By Tokiso TKay Nthebe
Let’s be honest—tax talk is rarely anyone’s idea of a good time.
For most people, anything involving tax legislation, compliance, or filing annual returns feels overwhelming and downright boring. The language is filled with jargon, the processes can be confusing, and let’s not even start with how stressful it gets when deadlines approach.
Even as someone deeply passionate about financial planning, money management, and financial health, I still find myself sighing when tax season rolls around. But here’s the thing—tax compliance is not just a legal obligation; it’s a crucial part of your personal financial plan.
My Costly Tax Lesson: When Doing the Right Thing Still Went Wrong
Since 2016, I’ve been diligent about filing my returns every year. Not because it’s fun, but because it’s the right thing to do. As a financial planner and the lead advisor at TKO Financial Wellness, I also feel a deep responsibility to practice what I preach.
So you can imagine my frustration when, in January 2024, my application to renew my Tax Clearance Certificate (TCC) was declined, despite my submitting my tax returns like clockwork. The reason? An outstanding payment of R3,360.22 dating back to 2016.
Cue disbelief. Confusion. Disappointment.
Turns out, I had missed one crucial step in my tax journey—requesting my tax account statement (also known as a ledger) from the tax authority.
Lesson 1: Tax Compliance Is Your Responsibility
Many of us believe that once we submit our annual tax returns, we’re done.
But the truth is, filing is just one part of the process. You also need to make sure your filings and any payments reflect correctly in the system. That’s where requesting a tax ledger comes in.
In Chapter 9 of my book, Let’s Change the Script: Chelete Ha Se Parcel!, I dive into the steps to becoming tax-compliant:
- Applying for a Tax Identification Number (TIN)
- Filing annual returns
- Applying for a TCC
- And yes—reconciling your account with the authority
This last step? I didn’t do it. And it cost me. Big time.
Why You Should Always Request a Ledger
Think of the tax ledger as your financial “report card” with the revenue authority. It tells you what they see on their end—what you’ve filed, what you owe, and what’s been paid.
In my case, a small tax liability from 2016 had quietly snowballed with penalties over the years. And because I never checked my ledger, I was blindsided nearly a decade later.
Sure, I could argue the authority should have flagged it sooner. But the truth is:
Tax compliance is a personal responsibility, not a shared one.
This experience didn’t just dent my finances; it threatened my professional reputation and blocked business opportunities that require a clean TCC. And if you’re an entrepreneur, freelancer, or aspiring investor, you know how important that certificate is.
Why This Matters for Your Financial Health
Tax planning is an essential part of investment planning, money management, and your overall financial wellness. Ignoring it or postponing it can derail your money adventures, especially when trying to access credit, do business with corporates, or apply for government opportunities.
Across Africa, more young professionals, creatives, and business owners are building wealth and chasing global dreams, but many are falling behind on tax matters simply because no one taught us how to handle them.
Let’s change that.
Key Takeaways for Your Financial Journey
- Understand your tax obligations — Know the steps, the timelines, and the documents you need.
- Filing is not enough — Always follow up with a ledger to reconcile and verify your records.
- Be proactive, not reactive — Don’t wait for penalties or rejections to take tax compliance seriously.
- Get the right help — Consult a qualified tax professional or financial planner for guidance.
- Stay financially literate — Educate yourself about how tax fits into your broader financial planning.
Whether you’re based in Maseru, Nairobi, Kigali, Johannesburg, Lagos, or Accra, being tax compliant helps you build credibility, unlock opportunities, and take control of your financial narrative.
Your money adventures deserve to be built on a solid foundation.
Ready to Get Your Tax Affairs in Order?
Start by getting a copy of my book: Let’s Change the Script: Chelete Ha Se Parcel!
It’s packed with simple, relatable and practical tools to improve your financial health—including a dedicated chapter on tax compliance.
Visit: www.tkofinancialwellness.com
Email: info@tkofinancialwellness.com
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About the Author
Tokiso TKay Nthebe is a podcast host, financial coach, author, and lead advisor at TKO Financial Wellness & Advisory. She’s on a mission to help young Africans build wealth, make smarter money decisions, and live empowered money adventures.
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